15:58 - 19.04.2023

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April 19, Fineko/abc.az. Recent inflation data, including reports on the slowdown in consumer price growth and the decline in industrial inflation this week, correspond to the fact that we can raise the interest rate again.

ABC.AZ reports that Raphael Bostic, the president and CEO of the Federal Reserve Bank of Atlanta, said about this in an interview for Reuters on Thursday.

Bostic stated that another quarter percentage point interest rate hike could allow the Federal Reserve to complete its tightening cycle with some confidence that inflation will gradually return to the 2% target.

"We have a huge momentum indicating that we are on the way to 2%," he said.

At the moment, it is expected that the Fed will raise interest rates by 0.25% at its meeting on May 2-3, bringing the base interest rate to a range from 5.00% to 5.25% - a level that has not been observed since the fall of 2007 before the recession.